Thousands fleeing Assad’s forces face an uncertain future in Lebanon.
The Bureau Recommends an exhaustive investigation by Tax Justice Network released today which analyses tax evasion levels in 145 countries representing over 98% of global economic output.
The study reveals that more than $3.1 trillion of tax is evaded – equivalent to 4.9% of world GDP.
The data, which heralds the launch of a new Tackle Tax Haven campaign, estimates that in the UK for instance, a staggering £69.9bn is illegally kept from the exchequer every year, equivalent to 79.8% of the NHS budget.
The United States loses $337bn to tax evasion according to the report – more than any other nation. In second place is Brazil which loses $280bn and third is Italy losing $238bn.
The report’s author, Richard Murphy, a forensic accountant and anti-poverty campaigner, merged a World Bank study into the shadow economy with official GDP figures and individual country’s tax rates.
Among his findings, Europe as a whole loses the equivalent of 87% of its total healthcare budget to tax evasion, while Africa loses 98% and South America 139%. The amount of cash tax evaded in Bolivia is four times its health budget.
The full report is available here.